What exactly is Sales Tax? [No confusion, anymore]

CEans,

The purpose behind starting CE -Finance was very simple. Engineers should have a place where they can talk about finance and benefit from it.

I've realized that most of us do not understand the term 'sales tax'.

While wikipedia says -

A sales tax is a consumption tax charged at the point of purchase for certain goods and services
what do you have to say about sales tax.

addendum: The reason I'm posting it because I saw two of my friends debating over a lame issue : Whether we should ask for the bill at Petrol Pumps? Got my point?
ckll

ckll

Branch Unspecified
hiiiiiiii the big k
i hve some knowledge about sales tax that i'm going to share wid u
SALES TAX IS PAID BY THE RETAILER FOR WAT THE ITEMS HE SOLD
THIS TAX WILL GO IN NATIONAL TREASURE
THIS TAX IS NECESSARY TO CONTROL THE REATAILER FROM GETTING
BLACK MONEY
i can tell u more bt not this time .....
i dont have enough time

Share this content on your social channels -

Only logged in users can reply.